Fintech Trends and Impacts on SMEs

The only thing that is constant is change!

And in the words of Socrates-” The secret of change is to focus all of your energy not on fighting the odds but on building the new.”

The SME sector contributes significantly to the economy of India. Despite being a strong contributor to India’s business ecosystem, small businesses hardly get access to technology and capital, work in silos and their potential remains untapped.

Fintech is quickly transforming businesses and technology and greatly impacting SME businesses.

Prominent Impact of Fintech on SME Businesses



It has changed how SMEs view their finances and made them more open, bridging the gap between their need for services and the availability of those services.

Financial institutions that offer digital services coupled with their financial products provide business owners with a single dashboard that connects with their accounting software and gives them a comprehensive view of all their transactions, cashflows, and invoices management. These integrated service packages also include business insights and details on their eligibility for emerging fintech trends that have had a significant impact on SME Businesses.

Working Capital Efficiency

Another issue SMEs encounter is managing working capital. SMEs may struggle to make payments on time and will have difficulties running their business if their finances are not in order now with a with a single dashboard view on money flows, reverse reconciliation takes place in the relevant ERPs, minimizing the difficulty in cash flow management for the business owner and accountant.

Real-time Payments

Real-time payments are now quickly integrating into the Fintech environment of the digital age. Using a real-time payment solution is essential for SMEs trying to reduce costs. The pandemic’s impact on the economy has only boosted the real benefit that shifting money delivers immediate gratification.

Easy Credit Access

Fintech often collaborates with banks and NBFCs and provides a simple loan process.  They now use digital lending systems to automate the entire loan process, improving the client experience for SMEs.

A Glimpse into the Fintech industry

Fintech will transform SMEs and change the world for the better. With 2023 just around the corner, it is certain that this sector will provide a lot more assistance to businesses in achieving their objectives with more automation and less work.

According to a recent EY analysis, India has the highest fintech adoption rate of all the nations at 87%, which is significantly higher than the global average of 64%.


Hylobiz an all-in-one Automated Fintech Solution for B2B-Cashflow, Compliance, Credit Readiness, and Commerce

If you as a business looking for an automated solution, try Hylobiz!

Hylobiz automates business processes with zero process change.

Origin Of Hylobiz

Hylobiz understood that in order to create change for SMEs, it was necessary to identify the real issue and determine a course of action.

Instead of providing the capital, which involves difficulties locating the customer, as well as issues with credit, NPAs, collections, etc., the founding team considered enhancing the value of their operations by streamlining their financial flows.

Hylobiz presents SMEs/MSMEs with various financial services on, such as credit, insurance, taxation, banking, compliance, etc.

The idea was to build an automated business banking platform in a box without having to change any existing workflows of an existing business.

To know more about the origin story –

Hylobiz Features and Benefits

A business can digitize its collections and payouts with Hylobiz. For more efficient management of transactions, working capital, and compliance, link your bank account and ERP.

You may give your customers a variety of payment alternatives and get paid more promptly. You can create payment links and distribute them to your customers to speed up payment receipts.

Smart dashboards and automated reporting can help you make better decisions and see the consistent business progress.

Good Business Score provides a triangulated view of your business health with automated reports, a smart dashboard, and a good business score that can support tracking and managing business transactions, invoices, cash flow, and business health in real time.

To comply with GOI requirements, use the Hylobiz e-invoicing and e-way bill solution.

Hylobiz CEO Vishal Gupta’s message to SMEs

Thanks to my fellow SMEs for all the learnings and feedback while building hylobiz. A few things that I have learned are collections against invoices and easier access to credit remain the key actions to keep business capital rolling. As many cycles, they can put this money to use for, bigger the ROI and turnover. Hence, digitalization is one key element followed by certain compliance bars being set by the Govt for e-invoice filing. Thanks to the infrastructure built with GSTN, NPCI, BBPS, and upcoming ONDC & OCEN, SMEs in India will take India to the 5 trillion dream economy.

Digital Lending and Fintech are Changing the SME Finance Scenario.

In Singapore Fintech Fest 2022, our CEO Vishal Gupta and fellow panelists shared their thoughts on the changing roles of banks and fintech. Here is what they said.

  • Helping SME businesses build ledgers, giving them needle mover loans, giving them insurance, and making them credit-ready 
  • Fintechs are building on banks’ legacy systems to simplify decision lifecycles from underwriting to disbursements 
  • Both are working towards internationalizing SMEs to trade better 
  • Democratizing the cash flow and commerce where FIs will have a better view of the lending ecosystem.

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